Scotia Has Lowered Expectations for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its price objective reduced by investment analysts at Scotia from C$41.00 to C$32.00 in a research note issued on Monday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotia‘s price target suggests a potential upside of 50.59% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. TD decreased their price target on Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. RBC Dominion Securities cut their price objective on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Raymond James Financial reduced their price objective on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and an average price target of C$37.62.

Element Fleet Management Stock Performance

Shares of TSE:EFN traded down C$0.20 during trading on Monday, hitting C$21.25. 542,381 shares of the company were exchanged, compared to its average volume of 1,128,081. The company has a market cap of C$8.32 billion, a PE ratio of 28.72, a P/E/G ratio of 2.97 and a beta of 0.60. The stock has a 50 day moving average of C$24.33 and a 200 day moving average of C$27.69. Element Fleet Management has a 52-week low of C$20.39 and a 52-week high of C$38.26. The company has a debt-to-equity ratio of 357.23, a current ratio of -1,179.03 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. As a group, equities research analysts predict that Element Fleet Management will post 1.69 EPS for the current year.

Insider Activity

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the transaction, the insider directly owned 64,897 shares in the company, valued at C$1,704,195.22. This represents a 58.33% decrease in their position. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the acquisition, the insider owned 3,844 shares in the company, valued at approximately C$95,139. This represents a 156.10% increase in their ownership of the stock. 0.26% of the stock is owned by insiders.

Element Fleet Management Company Profile

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.